Blaize (NASDAQ:BZAI) Director Anthony Cannestra Sells 50,000 Shares

Blaize Holdings, Inc. (NASDAQ:BZAI) Director Anthony Cannestra sold 50,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $1.68, for a total value of $84,000.00. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at $84,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anthony Cannestra also recently made the following trade(s):

• On Monday, May 11th, Anthony Cannestra sold 50,000 shares of Blaize stock. The stock was sold at an average price of $1.85, for a total transaction of $92,500.00.
• On Monday, April 6th, Anthony Cannestra sold 50,000 shares of Blaize stock. The stock was sold at an average price of $1.75, for a total transaction of $87,500.00.

Blaize Stock Performance

BZAI traded down $0.02 during trading on Wednesday, reaching $1.59. 877,000 shares of the company’s stock were exchanged, compared to its average volume of 7,107,854. The company’s fifty day moving average price is $1.81 and its 200-day moving average price is $1.76. Blaize Holdings, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $6.76. The firm has a market capitalization of $225.55 million, a PE ratio of -2.11 and a beta of 0.05.

Blaize (NASDAQ:BZAI) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.06). Blaize had a negative net margin of 202.65% and a negative return on equity of 551.04%. The firm had revenue of $2.74 million during the quarter. Research analysts forecast that Blaize Holdings, Inc. will post -0.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on BZAI. Rosenblatt Securities reaffirmed a “buy” rating and set a $6.00 price objective on shares of Blaize in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Blaize in a research note on Friday, March 27th. DA Davidson reaffirmed a “buy” rating and set a $3.00 price objective on shares of Blaize in a research note on Wednesday, April 29th. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price objective on shares of Blaize in a research note on Friday, May 15th. Finally, B. Riley Financial dropped their price objective on Blaize from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Blaize has a consensus rating of “Moderate Buy” and a consensus price target of $4.63.

Hedge Funds Weigh In On Blaize

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG boosted its stake in Blaize by 153.4% in the 4th quarter. UBS Group AG now owns 1,343,035 shares of the company’s stock worth $2,619,000 after purchasing an additional 813,121 shares during the period. Aristides Capital LLC acquired a new position in shares of Blaize during the 4th quarter worth about $86,000. X Square Capital LLC acquired a new position in shares of Blaize during the 4th quarter worth about $390,000. ProShare Advisors LLC increased its position in shares of Blaize by 571.7% in the fourth quarter. ProShare Advisors LLC now owns 84,109 shares of the company’s stock valued at $164,000 after acquiring an additional 71,587 shares during the last quarter. Finally, BRC Group Holdings Inc. acquired a new stake in shares of Blaize in the fourth quarter valued at about $163,000. 97.12% of the stock is owned by institutional investors and hedge funds.

Blaize Company Profile

Blaize (NASDAQ: BZAI) is a fabless semiconductor company that designs and develops hardware and software solutions for artificial intelligence (AI) and machine learning applications at the edge. The company’s core technology is centered on its proprietary Graph Streaming Processor (GSP) architecture, which combines dataflow computing with a highly parallel matrix processing engine to deliver real-time AI inference with low power consumption. Blaize’s platform is aimed at customers seeking to deploy sophisticated AI workloads in environments where power efficiency, latency and form factor are critical.

The company offers a hardware portfolio that includes standalone GSP modules, PCIe cards and M.2 form-factor boards, alongside its Blaize AI software stack.